H&M Foundation reaches beyond the H&M group’s value chain and complements our sustainability work. Its mission is to drive long-lasting positive change and improve living conditions by investing in people, communities and innovative ideas.
Diamonds of Russia.
Russia, as well as Canada and Australia - a country with huge mineral reserves. All three countries have become important producers of diamonds. Actually Russia is the world's second country, on extraction of diamonds, (after Botswana). Russia currently produces about 21% of the diamonds in the world. Extraction of diamonds in Russia is carried out generally in the Republic of Sakha in northeast Russia, near the Arctic Circle.
Today in the world the majority of industrial diamonds — synthetic stones. In 2010 the Geological service of the USA has reported:
"About 1,4% of all industrial diamonds, and on a share of synthetic diamonds — the rest fall to the share of natural diamonds". The cost of production of artificial diamonds has significantly decreased for the last several decades. Now it is cheaper to do induustrial diamonds, than to extract them.
In 2010 world production of synthetic industrial diamonds was about 4,38 billion carats for the sum from 1,65 to 2,50 billion US dollars. On average the price is about 50 cents for carat or less. The Chinese companies produce more than 90% of synthetic diamonds.
Russia as the country produces more precious diamonds than any other countries, including Botswana. It produces diamonds and their artificially produce for a long time. Russians have considerable experience in extraction of diamonds, productions of synthetic diamonds, and also use of diamonds as industrial material. JSC ALROSA and the state diamond-mining companies of Russia, makes more natural diamonds, than any other companies in the world and are a large producer of synthetic diamonds.